AlphaQuest LLC Purchases 18,778 Shares of Frontier Communications Parent, Inc. $FYBR

Key Points

• AlphaQuest LLC significantly increased its stake in Frontier Communications Parent, raising its position by 1,779.9% during the first quarter, holding 19,833 shares worth approximately $711,000.
• Frontier Communications reported a quarterly revenue of $1.54 billion, slightly above analysts' expectations, but had a loss of ($0.49) EPS, missing the consensus estimate.
• The company's stock opened at $36.94 with a market capitalization of $9.25 billion and is showing a one-year price range between $27.88 and $39.21.

AlphaQuest LLC boosted its holdings in shares of Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 1,779.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,833 shares of the company's stock after purchasing an additional 18,778 shares during the period. AlphaQuest LLC's holdings in Frontier Communications Parent were worth $711,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FYBR. Wealth Enhancement Advisory Services LLC grew its position in shares of Frontier Communications Parent by 23.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,302 shares of the company's stock worth $334,000 after buying an additional 1,755 shares during the last quarter. CSS LLC IL purchased a new stake in Frontier Communications Parent in the fourth quarter worth $392,000. Vanguard Group Inc. lifted its stake in Frontier Communications Parent by 0.3% in the first quarter. Vanguard Group Inc. now owns 24,354,812 shares of the company's stock worth $873,364,000 after acquiring an additional 77,795 shares during the period. Tabor Asset Management LP bought a new stake in Frontier Communications Parent in the first quarter valued at $2,069,000. Finally, Hudson Bay Capital Management LP increased its position in Frontier Communications Parent by 60.6% during the 4th quarter. Hudson Bay Capital Management LP now owns 532,999 shares of the company's stock valued at $18,495,000 after purchasing an additional 201,047 shares during the period.

Frontier Communications Parent Trading Down 0.1%

NASDAQ FYBR traded down $0.03 during trading on Friday, hitting $37.11. The company had a trading volume of 1,694,715 shares, compared to its average volume of 2,894,821. The company's fifty day moving average is $36.71 and its 200-day moving average is $36.31. Frontier Communications Parent, Inc. has a one year low of $27.95 and a one year high of $39.21. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 2.49. The company has a market cap of $9.29 billion, a price-to-earnings ratio of -23.91 and a beta of 0.95.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.31) by ($0.18). Frontier Communications Parent had a negative net margin of 6.40% and a negative return on equity of 7.88%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the firm posted ($0.49) EPS. The company's revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts predict that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Frontier Communications Parent Company Profile

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services.